Strategic Management and its Effects on Serbian Wood Industry

Vukmirović, Valentina and Petrović, Dejan and Kostić-Stanković, Milica (2017) Strategic Management and its Effects on Serbian Wood Industry. Management, 22 (3). pp. 37-47. ISSN 1820-0222

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Abstract

According to the available data on economic trends in Serbia, it is noticeable that companies in wood in-dustry do not use their capacities to the maximum. Furthermore, a significant number of newly founded small en-terprises, shortly after their establishment, go bankrupt or go into liquidation. Research works that have beenconducted so far have indicated that, most commonly, company deterioration is caused by a lack of strategic ap-proach in business management and company development. The aim of this paper is to gain an insight into the ex-tent to which wood industry enterprises apply strategic approach (their vision, mission and development strategies)when making business decisions, as well as the effects of such approach. This will be achieved by analyzing col-lected questionnaires and interviews with competent experts from wood industry monitoring institutions. Besides,SWOT and PESTLE analyses of the surveyed companies will be conducted. Furthermore, possible solutions forovercoming weaknesses and threats emerging in Serbian wood industry development will be indicated. Likewise,the possibilities for encouraging industry development and increasing its competitiveness level will be presented.

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